US backs out of tech tax talks, PE’s spending spree, Hertz halts share sale

The US has suspended talks with European countries on a new global tax framework for technology companies, private equity groups in the US have been on a spending spree despite worldwide lockdowns due to the pandemic, and the bankrupt car rental company Hertz halted its controversial $500m share sale. Plus, the FT’s Seoul bureau chief Edward White explains how Donald Trump’s transactional approach to foreign policy is affecting America’s relationships with Asian countries.

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